Kinder Morgan, Inc. (KMI) is C.V. Starr & Co. Inc. Trust’s 9th Largest Position
C.V. Starr & Co. Inc. Trust maintained its position in Kinder Morgan, Inc. (NYSE:KMI) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 541,052 shares of the pipeline company’s stock at the end of the second quarter. Kinder Morgan accounts for approximately 4.5% of C.V. Starr & Co. Inc. Trust’s investment portfolio, making the stock its 9th largest position. C.V. Starr & Co. Inc. Trust’s holdings in Kinder Morgan were worth $10,367,000 at the end of the most recent quarter.
A number of other institutional investors have also bought and sold shares of the company. First National Bank of Omaha purchased a new position in shares of Kinder Morgan during the first quarter valued at about $274,000. Private Bank & Trust Co. raised its position in shares of Kinder Morgan by 14.5% in the first quarter. Private Bank & Trust Co. now owns 11,566 shares of the pipeline company’s stock valued at $251,000 after buying an additional 1,469 shares during the period. American National Bank raised its position in shares of Kinder Morgan by 27.4% in the first quarter. American National Bank now owns 137,860 shares of the pipeline company’s stock valued at $2,997,000 after buying an additional 29,675 shares during the period. BLB&B Advisors LLC raised its position in shares of Kinder Morgan by 2.6% in the first quarter. BLB&B Advisors LLC now owns 135,494 shares of the pipeline company’s stock valued at $2,946,000 after buying an additional 3,467 shares during the period. Finally, American Research & Management Co. raised its position in shares of Kinder Morgan by 5.4% in the first quarter. American Research & Management Co. now owns 28,089 shares of the pipeline company’s stock valued at $611,000 after buying an additional 1,450 shares during the period. 57.70% of the stock is currently owned by institutional investors.
Shares of Kinder Morgan, Inc. (KMI) opened at 19.07 on Friday. The company has a market capitalization of $42.59 billion, a P/E ratio of 62.94 and a beta of 0.64. The firm has a 50 day moving average price of $19.68 and a 200 day moving average price of $20.53. Kinder Morgan, Inc. has a one year low of $18.31 and a one year high of $23.36.
Kinder Morgan (NYSE:KMI) last announced its earnings results on Wednesday, July 19th. The pipeline company reported $0.14 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.15 by $0.01. The company had revenue of $3.37 billion for the quarter, compared to analyst estimates of $3.12 billion. Kinder Morgan had a return on equity of 4.41% and a net margin of 6.20%. The firm’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.15 earnings per share. On average, equities research analysts predict that Kinder Morgan, Inc. will post $0.64 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 15th. Shareholders of record on Monday, July 31st will be issued a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 2.62%. The ex-dividend date of this dividend is Thursday, July 27th. Kinder Morgan’s payout ratio is presently 161.29%.
Kinder Morgan declared that its Board of Directors has initiated a share repurchase plan on Wednesday, July 19th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the pipeline company to purchase up to 4.6% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.
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Several equities analysts have recently issued reports on the company. Zacks Investment Research lowered Kinder Morgan from a “hold” rating to a “sell” rating in a research note on Tuesday, July 11th. Raymond James Financial, Inc. reaffirmed a “buy” rating on shares of Kinder Morgan in a research note on Wednesday, May 31st. Jefferies Group LLC reaffirmed a “hold” rating and set a $23.00 price target on shares of Kinder Morgan in a research note on Friday, June 23rd. TD Securities set a $26.00 price target on Kinder Morgan and gave the company a “buy” rating in a research note on Tuesday, June 20th. Finally, Sanford C. Bernstein assumed coverage on Kinder Morgan in a research note on Tuesday, May 16th. They set a “market perform” rating on the stock. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $23.91.
In related news, VP Dax Sanders bought 2,600 shares of the business’s stock in a transaction on Tuesday, May 30th. The shares were purchased at an average cost of $18.60 per share, with a total value of $48,360.00. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Richard D. Kinder bought 500,000 shares of the business’s stock in a transaction on Tuesday, May 30th. The shares were bought at an average cost of $18.58 per share, for a total transaction of $9,290,000.00. Following the completion of the acquisition, the insider now directly owns 234,712,353 shares in the company, valued at approximately $4,360,955,518.74. The disclosure for this purchase can be found here. Insiders have acquired a total of 507,503 shares of company stock worth $9,437,597 over the last ninety days. Company insiders own 13.99% of the company’s stock.
Kinder Morgan Company Profile
Kinder Morgan, Inc is an energy infrastructure company. It operates through five segments. Its Natural Gas Pipelines segment is engaged in the ownership and operation of interstate and intrastate natural gas pipeline and storage systems, and liquefied natural gas facilities, among others. Its CO2 segment is engaged in the production, transportation and marketing of carbon dioxide (CO2) to oil fields and the ownership and operation of a crude oil pipeline system, among others.
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